Cincinnati Bearcats. The American logo in Cincinnati's colors. The Cincinnati Bearcats are the athletic teams that represent the University of Cincinnati. The teams are members of the American Athletic Conference (The American), which from 1979 to 2013 was known as the Big East Conference.
You must reduce the basis of property by the depreciation allowed or allowable, whichever is greater. Depreciation allowed is depreciation you actually deducted (from which you received a tax benefit). Depreciation allowable is depreciation you are entitled to deduct.
In subsequent years, the adjustment will be a negative adjustment (reduce Indiana income), because the basis of the asset for depreciation on the Indiana return will not have been reduced by the âbonus depreciationâ claimed. Practice problem: Margaret purchased a new safe for use in her business.